JAMB Accounting Past Questions & Answers - Page 244

1,217.

A major benefit derived from the reconciliation of branch and head office books is to?

A.

Determine accurate returns by the branch

B.

Ascertain the correct profit or loss on branch activities

C.

Enable the branch to keep control over stock

D.

Enable the branch to ascertain debtor's balance

Correct answer is A

No explanation has been provided for this answer.

1,218.

Recurrent expenditure are expenses for the period not exceeding?

A.

10 years

B.

5 years

C.

2 years

D.

1 year

Correct answer is D

No explanation has been provided for this answer.

1,219.

The channel through which all government borrowing and domestic lending transactions pass is called

A.

Special trust fund

B.

Agency fund

C.

National loan fund

D.

Contingency fund

Correct answer is D

No explanation has been provided for this answer.